Should you wait until the holidays are over to sell your home?
Are you contemplating selling your home, but are unsure about the timing, especially with the holiday season fast approaching? It's a common dilemma for many homeowners.
While there are both pros and cons to selling your home during the holidays, the decision ultimately depends on your unique circumstances and goals. Let's explore the advantages and disadvantages of listing your home during the holiday season to help you make an informed choice.
BENEFITS OF SELLING DURING THE HOLIDAYS
1. Lower Inventory = Less Competition
One of the primary benefits of selling your home during the holidays is the reduced competition. Many homeowners postpone their listing until the spring or summer, creating a smaller pool of available properties. This can work in your favor as your home may stand out more and attract motivated buyers.
In fact, this creates a unique opportunity to market your home at a very high-level so you are one of the premium listings on the market. Our strategic marketing plan and ability to elevate your home as a Showcase listing on Zillow makes sure your home stands out from the others.
2. Serious Buyers
Buyers looking during the holidays are often more serious and motivated. They may be relocating for a job, have a year-end bonus to spend, or want to make a move before the new year begins. Indeed, many folks looking at homes this time of year motivated to make a home purchase by the end of December, so they can “reside” there January 1st and claim their homestead exemption.These factors can lead to quicker and smoother transactions.
3. Buyer availability
For some buyers their work schedule may be more relaxed during the holidays, which means buyers may have more time to look for homes than they would during their regular work schedule. Having your home on the market at a time when buyers are most available will increase the chance of finding the right buyer.
4. Emotional Appeal
Buyers enjoy seeing homes all dressed up for the holidays. After all, decorated homes during the holiday season exude warmth and charm. Staging your home with tasteful holiday decorations can create an emotional connection with potential buyers, helping them envision their own family celebrations in your space. All that holiday magic can have a positive influence on buyers at a time when emotional purchasing is at its peak.
5. Tax Benefits
Buyers looking to take advantage of tax deductions may be eager to close on a home purchase by the end of the year. This can be an added incentive for them to buy your property during the holidays.
DOWNSIDES OF SELLING DURING THE HOLIDAYS
1. Reduced Inventory
While less competition is a benefit, it's can also be a con if you need to find a new home yourself. There will be fewer homes on the market, making it more challenging for you to find a new home if you're planning to move.
Selling your home during the holidays can be inconvenient for your family. Open houses, showings, and dealing with the logistics of moving can be stressful when you're trying to enjoy the holiday season.
3. Lower Offers
Austin statistics show that homes typically sell for 6-8% less during the Fall and Winter. To maximize your profit, you may want to hold off on selling until the spring if you can.
That said, there are some upsides to selling during the holidays. If you are thinking about selling now but aren’t sure if you should take the leap, here are 5 reasons why the holidays can be a good time to sell your home.
4. Extended Closing Times
The holiday season can slow down the real estate process. Lenders, inspectors, and other professionals may take time off, potentially causing delays in the closing process.
TIPS FOR SELLING DURING THE HOLIDAYS
If you decide to sell during the holidays, here are some tips to maximize your success:
1. Price It Right
Set a competitive price to attract buyers, but be prepared to negotiate if necessary.
2. Tasteful Decorations
Decorate your home with a light touch, emphasizing the holiday spirit without overwhelming potential buyers.
3. Flexible Schedule
Of course, no one wants strangers touring their house while you are sitting down for a holiday meal. You will, however, need to be prepared to accommodate showings and open houses, and know that you'll get showing requests at inconvenient times.
4. Keep it Cozy
Ensure your home is warm and inviting. Light a fire, offer hot beverages, and play soft holiday music during showings.
5. Work with a Real Estate Agent
A knowledgeable and experienced real estate agent can help you navigate the challenges of selling during the holidays and provide expert guidance.
LET'S TALK IT OUT.
Ultimately, it's essential to weigh the pros and cons and make the decision that aligns with your goals and priorities. However, careful planning, pricing, and effective marketing can help you make a successful sale while still enjoying the holiday season.
If you think selling during the holidays is the right move for your personal situation, let’s grab some coffee and chat. We’d be glad to share our expertise during a free, no obligation consult.